Customer : Cheetah Motorsport
Challenge : Choosing a Successful Inventory for a New eCommerce Store
Solution : Understanding the Market and Enhancing Product Knowledge Through Algopix
Added Value :
- Help convince investors
- Choose profitable products to sell
- Saves time and money
Cheetah Motorsport Successfully Grows Its Online Store in Just One Year Using Algopix
About Cheetah Motorsport
Cheetah Motorsport has been selling motor parts out of its brick and mortar store in Miami, Florida, for years.
Julián Schlaen, the eCommerce manager at Cheetah Motorsport, has been working with digital agencies and in advertising for the last ten years. After studying web design in university, Schlaen knew he wanted to move his career into a new path.
“I have seen the Internet unfold in front of my eyes in the last 25 years,” he said. “I was always fascinated by it and I knew I wanted to work in something related to the Internet. I started with web design and multimedia design and after a while I got bored and decided I wanted something more strategic.” This is how he found his way to eCommerce.
With the help of Schlaen, the company decided to start building its presence in the online selling community about a year ago.
The Challenge: Choosing a Successful Inventory for a New eCommerce Store
When speaking about the difficulties of starting an online store, Schlaen explained, “At first, the hardest part was establishing our sales channels correctly. Having your own eCommerce site isn’t really a challenge, but it is a lot of work in the beginning. The challenge is getting a lot of people to trust your site.”
However, even after the company established itself online and built the trust of its buyers, the challenges didn’t stop.
“One of the things we are struggling with at the moment is figuring out how to buy properly,” he said. “It has been difficult finding goods to sell online.”
Currently, Cheetah Motorsport is working with distributors in the US motorcycle market, as well as the motorcycle apparel, accessories and power sports market.
“These distributors have huge lists of products with a lot of SKU data that we need to search through,” Schlaen explained. Additionally, one of the Cheetah Motorsports owners, a former Argentinian ATV champion, has many connections in the motorcycle industry along with product knowledge, which helps when searching for suppliers.
Schlaen has been working with Algopix since March, running searches weekly.
“I started doing bulk searches this month to go through the product lists that are provided by the distributors. I was currently looking at our latest results before this interview,” Schlaen laughed. “Algopix is helping us find opportunities.”
The Solution: Understanding the Market and Enhancing Product Knowledge Through Algopix
Schlaen said that at Cheetah Motorsport, “We use Algopix to understand the market and understand how our products are selling. We use it a lot to measure things we had no way of measuring before.”
Additionally, Algopix has been useful for helping Cheetah Motorsport sway investors to be on its side.
“We have a lot of investors that we need to convince before buying products in bulk,” Schlaen said. “Algopix is a good tool in order to show them the possibilities of a product.”
The Algopix solution shows users almost immediately which products will be profitable, and which won't, making it easier for Cheetah Motorsport to gain the aid of investors.
“I don't know how much time Algopix has saved me because I don't know how I could even do what Algopix does in another way,” he said. “It's not that it’s saving time, it's more that it is opening opportunities that I could not see before.”
Currently, Cheetah Motorsport is working on one purchase where the distributor provided a list with a lot of products that are motorbike consumables, like air products and small items under $20.
“We had already decided to buy from this supplier when they provided us with a huge list of product SKUs,” Schlaen said.
Manually, it would have taken days to search through each product individually to see if it was profitable. However, he said, “after running our list through Algopix, we now have a shorter, more profitable list of products to purchase from them.”